The Transform Technology Summits start October 13th with Low-Code/No Code: Enabling Enterprise Agility. Register now!
Streaming music startup Spotify will soon launch branded applications from AT&T, Intel, McDonald’s, Reebok, and more. The move will help the company find greater revenue possibilities.
Adding apps from big brands presents a great opportunity for Spotify to make more money. Chief executive officer and founder Daniel Ek recently confirmed that his company had posted losses of about $96 million in its two years, and that it will continue to spend money to make money. The cost of licensing music for streaming is so expensive Spotify has to attract a huge number of paid users so it can eventually become profitable. The company has 3 million paid users across 13 countries, but many more free users that listen to advertising to get access to music.
Apps are one of the best things now offered inside Spotify’s platform, and I regularly use them to help find new music or re-visit old classics. Here’s hoping that these branded apps, which will also take a stab at curating music, will match the quality of other apps presently available.
The branded apps will appear inside Spotify’s PC and Mac programs in the coming weeks, with Ek planning to introduce them on stage at Ad Age’s Digital Conference in New York.
Spotify branded app image: AdAge
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more